Friday, November 24, 2017

What are the Industries that Most Use Internet of Things?

This article, authored by Cory Popescu, SIP Writers Forum, is for the IT / Internet professional, but it is equally applicable to anyone, as we use computer and mobile devices in all aspects of our lives regardless of our profession. 

Internet of Things (IoT) using machine learning as a powerful tool has spread in various industries to observe and predict behaviour patterns. This helps organizations to increase their revenues, improve utilizing their resources including their workforce, help them become more proactive to market dynamism.

IoT applications are used in a variety of industries and they started being developed and implemented over 15 years ago and earlier. Some of these applications are mentioned below.

The power of artificial intelligence (AI) and machine learning is harnessed in a field of paramount importance for humans: healthcare. Devices which incorporate new technology remind the patients to get important diagnostic tests to take their medication at prescribed time, to eat properly, and to keep them in reasonable health by not needing hospital services. Other devices can be used to predict infection and provide health analysis.  Predicting the probability of contracting a disease through sequencing of genomes and making comparisons with elements of large databases represent other important applications in medical services. This allows doctors to use optimum treatments for those diseases. 

In the early days of AI, industrial robots have been introduced to assemble and ship products in manufacturing. Nowadays, new versions of robots perform more complex tasks in the electronics, automotive and home industry. Preventative maintenance in operations management is increasing the number devices which use machine learning. These devices are used to predict which parts become faulty so that they can be replaced with minimum downtime and costs.

Customers are already used for quite some time to receiving reports and alerts about “what else” they might like after their online purchases. To understand customers better, organizations use IoT to scan customers preferences based on their transactions and offer them the “next best” product or service.  Monitoring the historical purchases for segments of customers, the machines learn how to respond to customers' demands in order to up-sell or cross-sell. Customers can make informed purchase decisions based on the IoT devices recommendations.

Customer Service
Developments in IoT devices help personalize machine and human interaction, making AI more efficient in customer service. Through digital devices, IoT applications generate questions and text response messages to accommodate chats with customers. The automation of the personalized interactions with customers and prospects significantly contributes to reducing administration costs and improves the net efficiency of the organizations.

Essential IoT machine learning developments manifest among others, in the fields of: transportation, network security, financials. Readers are welcome to provide comments of additional IoT applications that they know about, with proven capabilities as the industry of developing intelligent devices based on machine learning is continuously evolving.

The FOW Community blog: Future Of Work: 5 Industries Being Most Affected By Artificial Intelligence by Connie Chan

Forbes: Tech: 3 Industries That Will Be Transformed By AI, Machine Learning And Big Data In The Next Decade by Bernard Marr

EngineersGarage: Top 10 Industrial Applications of Artificial Intelligence by Neha Rastogi

MIT Technology Review: Business Report: AI Hits the Mainstream by Nanette Byrnes

Cory Popescu

Your comments are welcomed

Click on the links below to read the other articles by Cory Popescu:
The New Thought Process of Machine Learning 
How Internet Helps Machine Learning
Can IT Professionals Become Savvy Networkers?

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